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The key to selling your home yourself is simply making a committment
to yourself to do it. Once you've made that decision, then it's
identifying all the tasks and doing them.
- Price Makes the Difference
It's important to price your house right the first time. Houses
that are priced too high just sit on the open market. Next
to location, price
is the most important factor in the sale of your home. Also,
don't make the mistake of thinking just because your are selling
FSBO (For Sale By Owner) that you can mark up the price more.
In fact, for a quicker sale, you need to price it a little
lower.
There are several good ways to determine what your house is
worth. Obtain comparable market evaluations of homes that
have
recently sold in your proximity. This information is available
through several different services on the Internet.
- Prepare A Disclosure Statement
No matter where you live, whether state laws require it or
not, it is best to create a complete and accurate disclosure
statement. Find out if your state requires the use of a specific
type of disclosure form. A disclosure statement discloses
any
defects in the property. You may want to hire a licensed home
inspector to conduct a physical inspection of your property.
Require the inspector to provide you with a detailed written
report which would include items that are in good condition,
items that need repair or replacement and items that may need
repair or replacement in the next few years.
- Prepare Your Property
First impressions are lasting impressions. You've heard it
hundreds of times, but when it comes to selling your home,
it can't be
more true. Therefore, curb appeal is the first area to concentrate
on. Here are some recommendations: mow the lawn, fertilize
and
make it look great, plant new shrubs and flowers, trim the
older plants, clean the driveway, paint the front of the house
and
stain the entry door.
The second areas to spruce up would be your living areas; entry
hall, living room, kitchen, game room. A fresh coat of paint
in a neutral color will brighten up these rooms. Also, unclutter
your house. Move out half your furniture. Your rooms will
look
much bigger.
Have your carpet professionally cleaned and floors waxed. Repaint
cabinets if necessary. Also, clean out the garage and get rid
of all the clutter and trash.
- Develop An Advertising Strategy
Your advertising strategy should be built upon this principle:
Give your home the widest possible exposure that you can.
Put Out A Sign. The yard sign will be your most effective
advertising tool. They are relatively inexpensive. They let
your neighbors know you are selling and they reach people
familiar
with your neighborhood. An effective yard sign is professionally
made, usually 18 by 24 inches, visible against the landscape,
simple and easy to read and capable of being read from a car
moving in either direction.
Information Box. An information box attached to your
yard sign is the second most important means of advertising
your home for sale. An information flyer concisely detailing
the features of your home, along with a picture will answer
questions potential buyers have and motivate them to see the
inside of your home.
Newspaper Ads. Newspaper ads will reach the largest
number of people in the shortest amount of time (outside of
the Internet).
Pick one or two newspapers that have the most real estate ads
and the ones that real estate agents tend to use. Start with
classified ads. They are the least expensive and can be very
effective. This form of advertising is most effective when
you
use several small ads stressing different advantages of your
home. Never run the same ad for more than a week. Change it
up
for effectiveness.
Online Listings. Advertising your home online is becoming
one of the most effective and powerful ways to get the word
out about your home. It is very cost effective for the amount
of content you can display about your home. It's a good strategy
to choose a couple of different listing services to obtain
the broadest exposure possible. When choosing an online listing
service it's important to check out several areas. First, they
must be easily found in the search engines. If they aren't,
then your listing will never be found by potential buyers.
Second, they should have a good number of listings from your
location,
unless they are a new service. Third, it's better to subscribe
to a service that charges a one time fee for your listing
until
the property is sold. Fourth, choose a service that is easy
to use and provides a simple way to update your listing.
- Show Your Home Successfully. By practicing a number
of simple concepts, you can successfully show your home and
close the deal. Just remember, if you have prepared your home
correctly, then the house will sell itself. The following techniques
will help in the process though.
Protect Your Valuables. Take steps to protect your property
and yourself. Hide your valuables. Have all viewers sign a guestbook
and show a picture id, preferably a driver's license. Accompany
anyone who is viewing your home. It's always a good idea to
always have another person with you when showing the house.
Prepare a Checklist. Create a "Showing Checklist".
This list contains all the things you need to do before each
showing, like; vacuuming, cleaning, dusting, turning on all
lights, check for odors, etc.
Oversee the Tour. Plan the tour of your home to emphasize
its best features. Accompany the viewers at all times but do
don't hover nor talk too much. Give the viewers space as they
move throughout your house. Allow the viewers adequate time
to view your home.
Be Prepared to Answers Questions. Be able to talk intelligently
about the climate and terrrain of the area, the demographic
characteristics of your neighborhood, the quality of schools
nearby and their locations, utilities and monthly expenditures,
traffic in the area, tax base, type of insulation, and many
other types of questions.
Complete the Sale. If your viewer seems serious about
purchasing your home, ask them if they are interested in submitting
an offer on your home. If they are, then schedule a time for
them to present the offer. Request that they present the offer
to you in writing accompanied by a personal or cashier's check
made out to an acceptable closing or escrow agent. If the
potential
buyers don't have a purchase agreement then give them one of
yours and review it with them. Give them copies of the disclosure
statement and any inspection reports.
- Finalize the Contract. Sit down with the potential
buyers and walk through their offer. Discuss each item and agree
on that item before going to the next item. When each item has
been agreed upon, sign the contract.
- Due Diligence. Be diligent to accompish all the tasks
described in the contract that are your responsibility as soon
as possible.
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